$2,200,000
SOLD APR 29, 2025

120 Carmelito Ave Monterey, CA 93940

Monterey Vista Neighborhood
-- Bed
-- Bath
4,389 Sq Ft
0.39 Acres

Recently Sold

$501 Per Sq Ft

6% Below List Price

551 Days on Market

About This Home

As of April 2025

Unique opportunity to own a two-parcel, multi-unit, estate compound in a central Monterey location. Consisting of two separate and independently parceled contiguous lots: 120 Carmelito Avenue and 942 Munras Avenue, each parcel contains individual improvements. There are 7 units in total, comprised of a 3 bedroom, 2 bath home, a two bedroom unit, 3 one bedroom units, a loft studio unit, and a stand alone commercial office. In addition, there are storage areas, parking and a workshop. The two properties offer a total of approximately 21,000 square feet of land and 5,000 square feet of improvements. Currently, 6 of the units are rented and the property is professionally managed. Owned by the same family for many years, this exceptional property is located within walking distance to downtown Monterey. The two parcels and improvements are being sold in their "As Is" present condition and are being sold together.

Last Agent to Sell the Property

Jim Lowell

The Agency License #00883474 Listed on: 08/11/2023

The Agency

Co-Listed By

Peter Baird

Baird Partnership, Inc. License #00533485

Last Buyer's Agent

Nayan Pandey

Keller Williams Realty License #02174678

Keller Williams Realty

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $11,454

Year Built

  • 1900

Parking

  • 1 Car Garage
  • 1 Carport Space
  • On-Street Parking
  • Off-Street Parking

Home Design

  • Shingle Roof
  • Composition Roof
  • Concrete Perimeter Foundation

Interior Spaces

  • 4,389 Sq Ft Home
  • Den

Additional Features

  • 0.39 Acre Lot
  • Wall Furnace

Community Details

  • 4,389 Sq Ft Building
  • 6 Leased Units

Listing and Financial Details

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$11,454

Year Built

1900

Lot Details

0

Parking

1

Listing Details

  • Zoning: CO
  • Subclass: Multiple Dwellings / Structures
  • Age: 123
  • Listing Class: Residential Income (2-4 Units)
  • Structure Sq Ft: 4389
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1900

Interior Features

  • Living Sq Ft: 4389
  • Additional Rooms: Office Area, Storage

Exterior Features

  • Foundation: Concrete Perimeter And Slab
  • Roof: Composition, Shingle

Garage/Parking

  • Garage Spaces: 1
  • Parking Spaces: 2
  • Garage Parking Features: Off-Street Parking, On Street
  • Carport Min: 1

Utilities

  • Heating System: Wall Furnace
  • Sewer/Septic System: Sewer - Public

Schools

  • School District: Monterey Peninsula Unified

Lot Info

  • Lot Acres: 0.3912
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 17043.00
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 17043.00

Rental Info

  • Existing Lease Term(s): Lease(s), Month To Month
  • Number Of Leased: 6

Multi Family

  • Utilities: Public Utilities
  • Meters: Separate Electric, Separate Gas
  • Number Of Buildings: 7
  • Operating Expenses Include: Fee - Property Management, Insurance, Maintenance, Services - Gardener, Utilities - Water
  • Tenant Expenses: Utilities - Electric, Utilities - Gas

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Aug 11, 2023
Closed on
Apr 16, 2025
Sold by
2016 Curtis Family Trust and Hespe Frank
Bought by
Shambala Estates Llc
Seller's Agent
Jim Lowell
The Agency
Buyer's Agent
Nayan Pandey
Keller Williams Realty
List Price
$2,350,000
Sold Price
$2,200,000
Premium/Discount to List
-$150,000
-6.38%
Views
538

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
127.58%
Original Mortgage
$340,000
Outstanding Balance
$339,401
Interest Rate
6.65%
Estimated Equity
$2,340,599

Purchase Details

Closed on
May 17, 2016
Sold by
Curtis William D and Curtis Adriana W
Bought by
2016 Curtis Family Trust
Source: Public Records

Range of Values:

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Type Sale Price Title Company
Grant Deed $2,200,000 Old Republic Title Company
Interfamily Deed Transfer -- None Available
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $340,000 No Value Available
Open $1,200,000 New Conventional
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
04/29/2025 04/29/25 Sold $2,200,000 -6.4% $501 / Sq Ft
02/13/2025 02/13/25 Pending -- -- --
01/30/2025 01/30/25 For Sale $2,350,000 0.0% $535 / Sq Ft
12/06/2024 12/06/24 Pending -- -- --
11/09/2024 11/09/24 Price Changed $2,350,000 -7.8% $535 / Sq Ft
07/18/2024 07/18/24 For Sale $2,550,000 0.0% $581 / Sq Ft
06/13/2024 06/13/24 Pending -- -- --
05/18/2024 05/18/24 Price Changed $2,550,000 -8.9% $581 / Sq Ft
12/07/2023 12/07/23 Price Changed $2,800,000 -27.3% $638 / Sq Ft
08/11/2023 08/11/23 For Sale $3,850,000 -- $877 / Sq Ft
Source: MLSListings

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $11,454 $1,015,633 $537,689 $477,944
2024 $11,454 $995,720 $527,147 $468,573
2023 $10,840 $976,197 $516,811 $459,386
2022 $10,693 $957,057 $506,678 $450,379
2021 $10,540 $938,293 $496,744 $441,549
2020 $10,148 $928,673 $491,651 $437,022
2019 $10,643 $910,464 $482,011 $428,453
2018 $10,224 $892,612 $472,560 $420,052
2017 $9,407 $875,111 $463,295 $411,816
2016 $9,241 $857,953 $454,211 $403,742
2015 $9,111 $845,067 $447,389 $397,678
2014 $8,955 $828,515 $438,626 $389,889
Source: Public Records

Agents Affiliated with this Home

  • Jim Lowell

    Seller's Agent in 2025

    Jim Lowell

    The Agency

    (831) 902-0777

    3 in this area

    21 Total Sales

    Jim Lowell
    Section Image
  • Peter Baird

    Seller Co-Listing Agent in 2025

    Peter Baird

    Baird Partnership, Inc.

    (831) 275-0000

    1 in this area

    14 Total Sales

    Peter Baird
    Section Image

  • N

    Buyer's Agent in 2025

    Nayan Pandey

    Keller Williams Realty

    (925) 934-2900

    1 in this area

    8 Total Sales

    Nayan Pandey
    Section Image
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Map

Source: MLSListings

MLS Number: ML81938118

MLSListings

APN: 001-672-019-000

California Monterey County Monterey 93940 Monterey Vista

120 Carmelito Ave, Monterey, CA

This home is located at 120 Carmelito Ave, Monterey, CA 93940 and is currently priced at $2,200,000, approximately $501 per square foot. This property was built in 1900. 120 Carmelito Ave is a home located in Monterey County with nearby schools including Monte Vista Elementary School, Monte Vista Middle School, and Monterey High School.

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